NASDAQ$JBLU

JetBlue Airways Corp · Q4 2025 earnings

Q4 2025 earnings · · Before market open · Investor relations

Briefing

JetBlue reported Q4 2025 operating revenue of $2.2B with a net loss of $177M, or $(0.48) per share.

Fourth-quarter operating revenue of $2.2 billion declined 1.5% year over year while RASM increased 0.2%, beating guidance. The company ended the quarter with $2.5 billion of liquidity (~27% of TTM revenue). Full-year operating revenue was $9.1 billion. Management continues cost transformation and network optimization while rebuilding profitability.

  • Q4 operating revenue $2.2B; RASM +0.2% YoY.
  • Liquidity $2.5B at quarter end.
  • Diluted EPS $(0.48).
  • FY25 operating revenue $9.1B (-2.3%).

Headline financials

Total Revenue

$2.2B

Previous: $2.28B-3.4%
EPS (adj)

-$0.48

Previous: -$0.21-128.6%
Average Stage Length (mi)

1.3K

Previous: 1.3K+0.3%
Operating Margin

-4.5%

Previous: 0.7%-742.9%
Pre-tax Margin

-9.5%

Previous: -3.6%-163.9%
Load Factor

81.5%

Previous: 82.2%-0.9%
Average Fare

$211.23

Previous: $211.18+0.0%
Yield per Passenger Mile

$15.87

Previous: $15.82+0.3%
Passenger Revenue per ASM

$12.93

Previous: $13.01-0.6%
Operating Revenue per ASM

$14.13

Previous: $14.11+0.1%
Operating Expense per ASM

$14.76

Previous: $14.00+5.4%
CASM ex-Fuel

$11.49

Previous: $10.76+6.8%
Average Fuel Cost per Gallon

$2.51

Previous: $2.47+1.6%
Revenue Passengers

9.7M

Previous: 9.9M-2.3%
Revenue Passenger Miles

12.9B

Previous: 13.3B-2.5%
Available Seat Miles

15.9B

Previous: 16.1B-1.6%
Aircraft Utilization (hrs/day)

9.7

Previous: 9.8-1.0%
Departures

76.4K

Previous: 78.8K-3.1%
Avg. Operating Aircraft

285

Previous: 288-1.0%
Fuel Gallons Consumed

201.0M

Previous: 206.0M-2.4%
Fuel Efficiency (ASMs/gal)

79

Previous: 78+1.3%
Net Income

-$177M

Previous: -$44M-302.3%
Operating Income

-$100M

Previous: $17M-688.2%

Revenue & EPS history

JetBlue · Revenue · Quarterly

$2.2B

Q4 2025-3.4%vs Q4 2024
Beat estimate in 9 of 15 quarters(60%)
ActualEstimate

Revenue by segment

JetBlue · $1.74B total across 2 segments · Q1 2022

  • Passenger
    $1.6B+139.3%
  • Other
    $133M+111.1%

Forward guidance

JetBlue is focused on restoring profitability through cost transformation, network optimization, and ancillary revenue initiatives while maintaining liquidity near 27% of trailing revenue.

Tailwinds

  • Q4 RASM +0.2% beat guidance.
  • Liquidity $2.5B provides balance sheet flexibility.
  • Cost transformation program ongoing.
  • Ancillary and loyalty revenue initiatives.

Headwinds

  • Q4 net loss $177M; EPS $(0.48).
  • FY25 EPS $(1.66).
  • Operating revenue down 1.5% in Q4.
  • Competitive capacity and fare pressure in key markets.

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 20 quarterly earnings reports · overlaid with Q4 2025

Historical avgQ4 2025

-2.3%

Avg return

Earnings day

-2.7%

Avg return

5 days after

+1.8%

Avg return

30 days after

40%

27 / 68 earnings

Positive

+13.3%

Q1 2020

Best reaction

-25.7%

Q4 2024

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026+1.8%-1.6%+8.7%
Q4 2025-6.1%-4.1%+14.2%
Q3 2025-12.3%-11.0%-4.2%
Q1 2025+2.7%+17.0%+24.3%
Q4 2024-25.7%-18.7%-19.7%
Q3 2024-23.1%-21.2%-18.6%
Q2 2024+8.1%-6.2%-15.9%
Q1 2024-21.3%-23.0%-25.4%
Q4 2023-3.5%+4.4%+17.8%
Q3 2023-12.1%+4.5%+5.2%
Q2 2023-11.2%-14.0%-23.8%
Q1 2023+0.9%+4.7%+0.1%
Q4 2022-5.2%-4.9%-3.1%
Q3 2022-1.1%+2.9%+5.2%
Q2 2022+0.0%+1.0%-10.4%
Q1 2022-14.0%-15.7%-18.8%
Q4 2021+2.9%+10.1%+14.9%
Q3 2021-4.4%-4.8%-1.9%
Q2 2021-4.7%-8.0%-5.6%
Q1 2021-2.7%-1.0%-0.1%
Q4 2020-2.3%-1.7%+25.5%
Q3 2020-11.5%-4.7%+26.0%
Q2 2020-2.7%+1.1%+13.4%
Q1 2020+13.3%+0.5%+70.7%
Q4 2019+4.3%+2.4%+4.1%
Q3 2019+7.8%+7.1%+6.3%
Q2 2019+3.2%+2.2%-5.0%
Q1 2019+8.1%+7.7%+4.5%
Q4 2018+2.7%+5.1%-0.1%
Q3 2018-4.5%-1.8%+8.9%
Q2 2018-13.1%-8.9%-4.6%
Q1 2018-3.7%-3.2%-4.4%
Q4 2017-7.0%-6.3%-3.3%
Q3 2017-0.8%-2.5%+0.1%
Q2 2017-3.0%-3.1%-15.0%
Q1 2017+2.3%+0.4%+4.9%
Q4 2016-9.7%-9.9%-10.1%
Q3 2016-6.4%-7.9%+11.9%
Q2 2016+7.4%+6.1%-7.3%
Q1 2016+1.1%
Q4 2015+0.3%
Q3 2015-6.0%
Q2 2015+2.6%
Q1 2015+5.2%
Q4 2014+6.5%
Q3 2014-2.0%
Q2 2014+1.2%
Q1 2014-7.8%
Q4 2013+2.8%
Q3 2013-4.2%
Q2 2013-1.7%
Q1 2013-3.6%
Q4 2012+1.0%
Q3 2012+0.4%
Q2 2012-1.3%
Q1 2012-0.2%
Q4 2008-1.2%
Q4 2011-1.2%
Q3 2011+3.5%
Q2 2011-3.4%
Q1 2011+1.7%
Q4 2010+0.9%
Q3 2010+1.0%
Q3 2009+1.0%
Q4 2009-1.9%
Q2 2009-1.9%
Q2 2010-1.9%
Q1 2010-0.9%

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